what do i do with my invention?
what do i do with my invention?
29 March 2006, 12:51 PM
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29 March 2006, 12:52 PM
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Originally Posted by sarasquares
you can all come and work for me if its successful
surely your idea can get pinched if you tell someone
surely your idea can get pinched if you tell someone
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29 March 2006, 12:55 PM
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29 March 2006, 12:56 PM
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You need to consult an intellectual property lawyer and get a patent registered in each country you're likely to market your invention. It probably won't be cheap...
29 March 2006, 01:28 PM
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Originally Posted by sarasquares
i need to find out if anyone has the same idea as mine. is there somewhere i can look up patents pending?
karl, as if
karl, as if
29 March 2006, 01:35 PM
#20
Originally Posted by Karl 227
The ones I already have are full of little holes, I need some new ones please
dont tell me the holes are from darts cos i dont believe you
29 March 2006, 01:44 PM
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Originally Posted by sarasquares
you must be very potent a trip to the doc is required i think
dont tell me the holes are from darts cos i dont believe you
dont tell me the holes are from darts cos i dont believe you
29 March 2006, 01:44 PM
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29 March 2006, 02:35 PM
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I may be stating the bleeding obvious but even if you have the best idea/invention in the world, you will be unlikely to profit from it unless you go about things in the right way.
Think about the potential market. Are you supplanting some existing product or are you creating a new market? If it's the former then one option would be to approach an existing "big payer" in that market and show them your idea. You would want to do this only if you have appropriate non-disclose/confidentiality agreements in place. The advantages of this are:-
- they are an existing player, they know the market, they will know what the potential business would be. It would be pointless wasting your time and money if it's not commercially viable
- they have manufacturing experience and equipment
- they have a brand name to lend it credibility
- they have a supply network
- low risk for you, you don't need to spend tens of thousands on worldwide patents up front.
- should it go to production then you should be able to get an upfront lump sum plus a royalty based on numbers made/sold
Note that you don't need the idea patented when you first speak to them provided that the required confidentiality agreements are in place. If they see the value of it and want to adopt your idea, then you can get worldwide patents on the idea, ideally get them to pay to do that. But do not get patents until you have the plans and finances in place to exploit the idea. Once the patent(s) gets granted, the clock starts ticking. You will have a window of opportunity when only you can use the patented idea. Create the market before the patent lapses and count your money. The person who gets to the market first creates the market and sets the price. Late entrants will try to compete on price and will have lower profit margins.
Getting worldwide patents will cost tens of thousands of pounds. You would also need lots of money in reserve to vigorously defend your patents worldwide if someone infringed them. James Dyson did this, it took him years to make the lawsuits stick, but he won millions in damages, enough to get large scale production off the ground and turn Dyson into a household name.
Good luck.
Think about the potential market. Are you supplanting some existing product or are you creating a new market? If it's the former then one option would be to approach an existing "big payer" in that market and show them your idea. You would want to do this only if you have appropriate non-disclose/confidentiality agreements in place. The advantages of this are:-
- they are an existing player, they know the market, they will know what the potential business would be. It would be pointless wasting your time and money if it's not commercially viable
- they have manufacturing experience and equipment
- they have a brand name to lend it credibility
- they have a supply network
- low risk for you, you don't need to spend tens of thousands on worldwide patents up front.
- should it go to production then you should be able to get an upfront lump sum plus a royalty based on numbers made/sold
Note that you don't need the idea patented when you first speak to them provided that the required confidentiality agreements are in place. If they see the value of it and want to adopt your idea, then you can get worldwide patents on the idea, ideally get them to pay to do that. But do not get patents until you have the plans and finances in place to exploit the idea. Once the patent(s) gets granted, the clock starts ticking. You will have a window of opportunity when only you can use the patented idea. Create the market before the patent lapses and count your money. The person who gets to the market first creates the market and sets the price. Late entrants will try to compete on price and will have lower profit margins.
Getting worldwide patents will cost tens of thousands of pounds. You would also need lots of money in reserve to vigorously defend your patents worldwide if someone infringed them. James Dyson did this, it took him years to make the lawsuits stick, but he won millions in damages, enough to get large scale production off the ground and turn Dyson into a household name.
Good luck.
29 March 2006, 03:54 PM
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hi sara
i'm in the same boat as you (don't go there)
i can't afford the time or money to search through all the patents so what i've done (this week in fact ) is to contact imo the brand leader in which my product would work and they have asked for me to send them details, this may be risky but i've had the idea for years so thought it was worth trying.
Good Luck, hope you keep going with it and get somewhere
i'm in the same boat as you (don't go there)
i can't afford the time or money to search through all the patents so what i've done (this week in fact ) is to contact imo the brand leader in which my product would work and they have asked for me to send them details, this may be risky but i've had the idea for years so thought it was worth trying.
Good Luck, hope you keep going with it and get somewhere
29 March 2006, 04:12 PM
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post a sealed copy of the idea to yourself and keep it sealed and postmarked............ anyone you want to discuss it with should sign an intelectual property agreement first.